The US Securities and Exchange Commission (SEC) has placed before a federal court detailed Consent to Judgment terms agreed separately with Gautam Adani and Sagar Adani, outlining monetary penalties, conduct restrictions, and compliance undertakings, according to court filings submitted before the US Court.
As per the consent judgment relating to Gautam Adani, the billionaire has agreed to the entry of a final judgment imposing a civil penalty of $6 million, without admitting or denying the allegations made by the regulator. The consent explicitly bars him from making any public statement that directly or indirectly denies the SEC’s allegations or creates an impression that the complaint lacks a factual basis.
A separate consent judgment filed for Sagar Adani provides for a higher civil penalty of $12 million. Similar to the terms accepted by Gautam Adani, the agreement restricts Sagar Adani from publicly contesting the allegations while permitting him to state that he neither admits nor denies the claims, in line with SEC settlement practice.
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Both consent judgments stipulate that any financial liabilities arising from the final orders—including penalties or related amounts—would be treated as non-dischargeable debts under US bankruptcy law. The defendants have also agreed to withdraw any prior court filings that deny the allegations contained in the SEC’s complaint.
The documents further provide that, in the event of a breach of the settlement terms, the SEC may seek to vacate the final judgment and restore the civil action to the court’s active docket.
The consent judgments, once approved by the court, would conclude the SEC’s civil enforcement proceedings against Gautam and Sagar Adani. The filings clarify that the settlements do not restrict the defendants’ ability to take legal positions in proceedings where the SEC is not a party, nor do they affect testimonial obligations.
